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tv   Varney Company  FOX Business  October 5, 2015 9:00am-12:01pm EDT

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dagen: russia is pumping oil at a post soviet high. it shows it needs the money. maria: we've got a big lines, we'll talk about alliance chief and former fed chairman ben bernanke. "varney & company" is next, stuart, have a good show. over to you. stuart: thank you, we'll take it. it looks biblical and now westbounding -- we can see what a foot or more of rain would do. sustained rain in charleston south carolina. am some of the rivers have to crest and it's not over. more on that in a moment. russia intensifies bombing and they don't worry about civilians. in the polls, trump's lead in
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new hampshire narrows and the outside he is lead the politicians. in democrats, hillary leads in iowa and bernie sanders in new hampshire. "saturday night live" pushes the likeable hillary. >> donald trump, the one that's like, you're all losers? ♪ >> we are going to start with the historic flooding in the care liolina carolinas. governor nikki haley called it a thousand year flood. ashley we'll watch dramatic video, but tell us, is it over? we've got rivers rising for technically two more days although the rain spigot will
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be turned off finally in the next few days. central south carolina, columbia the capital hard hit to charleston and as you said a one in a thousand year flood, the perfect storm, i hate to use that analogy because it's overused, but it really was in this case. stuart: i wonder if we're going to keep seeing that flood water rushing. ashley: absolutely. it's a cumulative thing. 23 inches. stuart: 23 inches. ashley: yes. stuart: good heavens, central south carolina. stuart: biblical. and ashley, more on that. look at the dow futures, we'll be up triple digits you don't get a sense -- if you follow the market, and you get the sense that people are out there, buy, buy, the market is going up. you don't feel that. market watcher keith fitz-gerald says the system
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will fail and we can prevent another crisis. you're pouring cold water like a lot of people, all over this monday morning rally. >> i hate to do it. you know me, we've worked together for years. i'm an optimist at heart and believe the glass is half full. but right now it's time to be cautious and confine your investigators only to the best companies. the politicians have no idea what they're doing and fed lost control a long time ago. there's a shakeout coming, unfortunately. stuart: would you agree with me, look, on this program for a couple of weeks, long there's been a single analyst who said buy that market, buy it now, because we're going to 18, 19, 20,000 dow industrials. nobody has said that to my knowledge? >> no, i'm not aware of anybody making that call either. stuart: you're on the side that says, watch out, bad news is coming, can we sum it up with that? >> well, yes, we can. but be cautious, among other things. don't do anything rash.
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that's the message here, don't do anything rash even if there's bahhed news. stuart: i can't see anything wrong with going for the high flyers and into the dividend stocks. >> absolutely, i can, that's the thing i get excited about and pt-- optimistic about. absolutely. stuart: and we're back when the market opens in 24 minutes' time. see you shortly. new polls, trump still in the lead, but now he's got company and his lead is narrowing. start with iowa. what you're seeing is trump 24, ka carson 19, fiorina 8 and marco rubio. not pictured bobby jindal and ted cruz, also at 6%. and trump has come down a little bit and lead has narrowed. how about new hampshire, trump 21%, fiorina, 16%, that lead narrowing in iowa bush 11, rubio 10, carson 10. and fiorina the second place spot, 16%.
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the last time that poll, that particular poll was taken she had 6%. she has come right up there. and mary kissel, i've got to say now on the republican side it now looks much more like a real race. >> it definitely is a race and it's still very fluid, stuart. i think it's easy to look at these polls and say, well, donald trump, the lead is narrowing, on his way down and fiorina is on the way up. voters are still learning what the candidates are about. stuart: hold on a second, i was going to say the top five are emerging on the republican side and pulling away, that's the race. >> stuart, you have to be careful making statements like that because guys like jeb bush, guys like ted cruz, they have a lot of money. the super pacs are going to allow them to stay in the race longer, going to allow them to explain their policies to voters so you just can't say that they're out of it. one piece of good news, everybody is talking about tax reform, everybody is talking about economic growth, that's the best news on the republican side.
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stuart: across the board on the republican side all of them, growth. >> if you look at the tax plan, it looks like jeb bush's tax plan like he kind of cribbed it from jeb bush. stuart: they're talking tax rate cutsmen. >> with a 2% policy you have to cut taxes to grow. stuart: we've all been saying that, they've been listening to us. i admit, self-flattery. russia, intensified attacks in syria and british prime minister david cameron joins the chorus, hey, moscow, change course. and joining us walid phares, the times. there are plans for thousands of arab fighters to join the kurds in the fight against isis. that's a ground war. is it going to happen, do you think? >> depends who are the arab fighters. if we're talking about militia
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men, that's already happening on the ground. the only force that can change greater in the ground is if the gulf would send regular units and egypt would send regular units. but saudi arabia, yemen and egypt busy in libya, so that's not going to happen very soon. stuart: do you think that we could now see one front going after isis, that's our coalition, and another front, the russians going after the anti-assad forces? can you see that happening? >> it is happening. we are overlapping. we are conducting air strikes against isis and other al qaeda-linked groups and so is russia doing. the difference is, russia is doing this to protect the assad regime and maybe to extend the assad regime reach and also to build a territorial bridge through iraq to iran.
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russia has a much wider agenda than isis. stuart: it's hard to see how we're winning. the coalition that america supposedly assembled, it's hard to see that winning, coming out on top. it seems like putin has won. >> i think he's now in the lead. it's like a race. we are losing ground, we are losing ground with eric iraqis who are shifting toward iran. the russians are in a war in baghdad. and number one, they're frustrated that we did the deal with iran. number two, the russians are in syria and may be head today link it economically to recover some of oil that isis wants to take back. one fallout, i think, will be even more refugees forced out of that whole north african area and making their way to europe, am i right? >> very important strategic conclusion. thank you for mentioning it. i was yus coming back from the european parliament conference in copenhagen yesterday and
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that was the most important point. if no solution is found and if the russian advance is going to be serious, there will be not uns had-- hundreds of thousands, there will be millions, through turkey, the balkans and mediterranean. it's catastrophic in nature. stuart: in your opinion, one minute left, what should america do and president obama do right now? >> well, change course, change course. he has been doing in a direction, partnering with the iranians and the muslim brotherhood. he needs now to work on the arab coalition and help them, work with the kurds for civil society and firm with the russians, telling them where they should go and where they should not be going. is there any engineering in the white house in that direction? i don't know. stuart: okay. walid phares, thank you for joining us on this day. >> thank you. stuart: a cargo ship with 28 american citizens on board is missing at sea. the u.s. coast guard says it spotted a 225 square mile
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debris field. they've seen styrofoam shipping containers. it's believed to have encountered severe weather. >> they found a large aisle sheen and life jackets, things that don't look good for ship at all. we'll get an update at 10 a.m. from the coast guard. this went missing in the hurricane of joaquin. at the time had wind of 130 miles per hour. stuart: can you imagine being in a ship, on a large ship. >> in the 1970's era ship. the question we should be asking, why are there so many old and decrepit ships out there. what are the barriers to competition in the shipping industry that are putting this stuff out on the ocean. ashley: can't say this didn't see this coming. because charting of hurricanes was pretty good. why were they taking that risk and obviously heading right to where the hurricane was. stuart: what a dreadful story.
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coming up ben bernanke, he says wall street executives, individuals, should have gone to jail for their role in the crash of '08. that's red meat to judge napitano and he's on it in a moment. and obamacare bureaucracy, you're not going to believe the new coding system for various illnesses. how about 100 new codes just for diabetes? that strains doctors, causes wait times and much higher medical fees, doesn't it? ♪ hi, tom. how's the college visit? does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing our clients personally is why edward jones is the big company that doesn't act that way. you can't breathed. through your nose. suddenly, you're a mouthbreather. well, just put on a breathe right strip which instantly
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huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck. >> in front, going all the way to end the game. stuart: and now what are they now? 2-2? i think so, yes, 2-2. okay. by the way, beat man u and that's the thing. >> and what's that.
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stuart: did the audience hear that? wait a minute, are we still watching, look at this. he runs and he gets clobbered. okay. that's the expert commentary. okay. [laughte [laughter] >> here is the formal introduction of judge napitano. ben bernanke telling usa today more corporate executives should have gone to jail because of their role in the great recession. roll at that tape. >> it was within my preference to have more, more investigation of individual actions as obviously everything that went wrong or it was illegal was done by some individual not by, you know, an abstract firm. in that respect i think that there should be more accountability at the individual level. stuart: now, this red meat for judge napitano? i'm not sure. what do you think? bernanke wants-- he wants perp walks by the sound of it, do you.
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ashley: you know what he wants? >> book sales, it's all about selling his memoir and the clip that we just ran, as i understand it, i haven't seen the book yet, reiterates or teases some arguments he made in the book, but seriously, for a person to go on national television without naming names or identifying crimes and saying that people should have been invited is not the mark of a serious scholar of the recession of '08 and how it happened. and i don't know who he's talking about, i don't know what crimes he's talking about. >> talking about the role of the fed, he wasn't running the fed. stuart: the authorities went after institutions and threatened them with a criminal prosecution unless they coughed up tens of billions of dollars because that's how the authorities work it out. >> yes, the authorities were more interested in filling bugetary gaps with cash than putting people in jail. it's difficult to reach the bar to put somebody in jail, but
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it's easy to threaten to put somebody in jail who has a lot of money, knowing that they'll cough up a lot of money. stuart: the wall street board is sitting here. >> exactly, judge, what that was was a shakedown operation. what was the crime, selling junk stuff to sophisticated investors who should have known better? if you with a pt to point the finger, point the finger at fannie mae and freddie mac, to the bureaucrats who said let's sell mortgages to people who can't afford them. >> of course, the bankers knew that fannie and freddie would buy any piece of garbage they put together and who was on the hook? taxpayers. and bernanke was offering th this-- using this loosely, he didn't have any responsibility in this? >> you don't approve of ben bernanke's statement that individuals should have been
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prosecuted and perp walked? >> if he knows this he should tell the justice department was and-- wants to sell a book. >> the government was behind the housing crisis, it's a bait and switch. go look over here, don't look at us in washington. ashley: blame the people we encouraged to act the way they acted. stuart: the government was responsible for the housing crisis? >> yes, and the crown jewel of all of this, tarp. stuart: tarp. >> thank you. [laughter] . stuart: by the way, ben bernanke is on with maria tomorrow. i'm not sure of the precise timing, but he's on with maria tomorrow morning, 6 to 9. and we won't get into the idea that-- no, we won't. that ben bernanke saved the american economy, let's not go there now. >> a separate issue. stuart: yes, indeed, the mic is open.
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coming up, hillary clinton on "saturday night live." she is trying to change, shift her public image by making herself appear more likeable. some say it worked. >> can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought.
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can a business have a spirit? can a business have a soul? can a business be...alive?
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>> hillary clinton making a special appearance on "saturday night live." the season premier. look at this, please.
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>> all anyone wants to talk about is donald trump. >> donald trump? isn't he the one that's like, uh, you're all losers? >> do you think he'll win the primaries? >> he must. i want to be the one to take him down. i will destroy him and i will mount his hair in the oval office! . stuart: did that make hillary look more likeable, mary? >> was that-- that was an ad forhill. i thought the point was snl was to skewer the guests. i didn't think, where was the e-mail scandal. >> it felt like hillary wrote it. ashley: a satire to mary's point. >> why were they doing a skit about hiding the e-mail server in the trunk of her car or in the front yard. stuart: get your point. i thought she looked more likeable in that particular
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skit. how about this one. hillary is expected to announce a gun control plan today and ashley, i think the principal proposal to-- >> third party liability, you were pointing out in the commercial, like making fedex responsible for those who mail drugs. >> and tightens up on background. ashley: that takes everybody out of the process. >> a lot of the guns are legally obtained, even without the background checks. the question, how do we solve the problem of the mass murders? president obama said we have to politicize this, which to me suggests that he wants to make it a political issue, he doesn't want to focus on solving. stuart: taking the legislative, we the people, that's out of the equation. the judiciary takes care of the gun manufacturers and the executive branch takes care of
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background checks. ashley: we the people have no say. stuart: can you imagine the class action suit that they will be launching on this. i think we've kelt dealt with that. coming up, we'll take a look a the a mini rally when the dow opens. one of our guests say, don't be fooled, the markets are set up for failure. and taxies about be to launched next year in japan, robot cab tackies.
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>> for a person to go on national television without naming names and citing crimes without being indicted is not the mark of a serious scholar of the recession of '08 and how it happened. stuart: if you're just joining us you missed the judge there critiquing ben bernanke who says individuals should have done perp walks because of their role in the crash of '08. remember, please, we start at 9:00 sharp every single day. the opening bell will be ringing in precisely 30 seconds. we're expecting a triple-digit gain for the dow jones industrial average. this, of course, would continue friday's 200 point gain. we have that gain because it
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was a rotten jobs report which implies that the federal reserve will not be raising rates this month, may wait until december or later. that apparently is good news for stock prices. you can never depend on how exactly it's going to be taken, but that's the few of the market so we're about to open and we will open up, probably about 100 points. let's see how we do. the bell has rung, we're up 30 points, 32 points, away we go. joining us this morning, keith fitz-gerald. ashley webster is here and scott shellady. keith, first to you, earlier on the show you warned that the system could fail again, time to cash out, maybe. say that again, please for the benefit of viewers just coming on board. >> sure, the system could fail and you could cash out, stuart. here is the thing, you want to be very cautious here, the system has not changed. to have ben bernanke coming out right now is very telling. it's a bait and switch, it's disingenuous at best.
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he could say look over here because us at the fed, we did 0 your job. supporting the big banks, middle america is hurting and corporate earnings are in decline. you want to concentrate on those companies with strong cash flow and big balance sheets. they're out there, otherwise be cautious. stuart: scott shellady, you're basically a commodity kind of guy. why do you laugh when i say that? i'm going to ask you about stocks. time to cash out a little bit because the nasty episode is coming down the road? >> well, i mean, the definition of a black swan we can't predict it. i agree with keith. i think that ultimately the engine is broken and the numbers keep telling us that. as long as the fed stays data dependent, the reason that the market did rally back on friday, was maybe there were thoughts of maybe accommodation down the line, but i still say that shouldn't be good for stocks. if the economic engine is truly broken, then stocks should go lower. here is where we
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we don't have any real true growth. and what the u.s. may be stumbling a little bit. how are you going to say that's a big driver. >> moving on to more individual stocks with individual issues affecting them. how about vw. it began stalling software designed to cheat on emission tests, this morning we hear the focus is on two engineers in particular after who did this thing. >> yeah, the two names coming up. one is audis chief engineer and-- lead engineer from porsche. these two individuals are stars in the german auto industry. they were put under pressure,
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to get a fuel efficient engine sold in the united states that met the standards here, which are pretty strict. volkswagen is doing well around the world. one in four cars in europe are a volkswagen branded car. the pressure was to get it done in america and it's a huge market, the theory goes that they couldn't deliver without the defeat device as it's called. and that's where the investigation is focused right now. i want to know when that stock is going to move up. look, i'm not going to predict this, but in times past when major auto companies have gotten into trouble with some kind of scandal or other, the stock goes down and bounces back. vw is down to 22 today. ashley: the incoming chairman said a chilling comment, he said this scandal is quote, an existence threat to the company. stuart: and how much it's going to cost, the image.
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ashley: the damage to the brand and image. diesel is less than 5% in the u.s. it's not a huge market, but the image, and cheating that goes back to 2008. stuart: now, on my script in front of me, it says death watch. that usually means we play the organ music. ♪ who is on death watch? american apparel. nicole, give me the background. nicole: the background, they have the ceo who founded the company back in 1989, weren't cutting it, there were always worries about misuse of funds and the teen retailer fickle in the first place. there's a one-year chart. it's 1 # -- 11 cents. this was a $16 stock back in 2007 and the ceo has about 15 million dollars in credit so the creditors are now looking to cash in and trying to hold him at least in part, responsible. on the other side of the coin, we're watching aeropostale
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soaring, up 9% today. the same market, teen retailers, but, they're out, they could be in and aeropostale forecasting for the holidays, a 3% gain in sales, a winner. stuart: and wasn't aeropostale dropped way below a dollar a share? >> a very small company. these companies are having a hard time and some of them have gone out of business. cache, wet seal, body central, right, all of those filed for bankruptcy. it's a tough business. stuart: yeah, teen retailing, very tough. i should know. how about tuning in every weekday morning at 5:00, lauren simonetti, nicole petallides taking you through the business at 5:00 in the morning. disney, taking a page from uber, looking at surge pricing to control the themes at --
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at the theme parks. ashley: signature plus, a 1,049. and you take away the plus, good for 350 days can't go on the peek days peak days. stuart: and that's the golden ticket. what about surge pricing? >> that's a good problem to have. some of the disney parks have been overcrowded and they're trying to stagger the crowds. gold, silver and bronze tickets. the gold could be used every day of the year, and so on down, because they're twice in recent times had to shut the park at the entrances because it reached maximum. so they're trying to say, if you want to be here on a peak day you're going to have to pay more, but if you're here on an off peak day much like uber, you pay less.
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stuart: at the florida park, 105 for one adult for one day. ashley: a family of four well over 400 bucks before you eat. stuart: it's full of foreigners. ashley: it is. stuart: glencore, up. and in the asian market up as much as 70%. the company put out a statement no new announce on its part to explain the gains. can you tell me what's going on with the giant commodity company, scott shellady? >> lot has been written, the ceo has been flying all over the world trying to bolster investment confidence in that stock price. it looks like what he's saying and doing is working. i know he's a bull dog and he's a fighter. we'll give him a chance. i think it's mainly due to the fact they've been working extra overtime to make the investor confidence come back because it did go quickly.
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>> this is about the worldwide slump in commodity prices, that's what it's all about, isn't it, scott. >> 100%. it's not just glencore. everything else has come off significantly. and you can't go anywhere else to find a reason for that except the big economic entrants around the world are broken. we haven't found true growth. he's going to have a fight on his hand, but right now seem to be coming back. stuart: good monday morning, the market has been opening. we're now at 16-6. and now, an issue very much worth talking about, ben bernanke, he told usa today that more corporate executives, individuals, that is, okay, should have gone to jail, done a perp walk for their role in the great recession. do you have any comment on that, keith? >> absolutely that's true. but, again, ben bernanke is
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being disingenuous. it's all about book sales and ben bernanke, it's not an acknowledgment of his role in this. i find it appalling. stuart: scott shellady, what do you say about individuals should have been charged and go to jail? >> i saw the interview and i thought it's one big cop out. like any other liberal psychologist, i would say let's stop looking for blame and let's look in the mirror for accountability. that's what should be done here, not what he's saying. stuart: next up, driverless, robot taxies. they're going to be in a japanese town. ashley: it's south of tokyo for those of you keeping score at home. they're going to run the trial taxi service, you're seeing pictures of the elderly because they're going to use the taxis for elderly people who have no access or good access to transportation. they're going to put them in the robotic car, and they'll
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have a driver in case something goes wrong. by all intents and purposes they're supposed to do nothing and let the robotic tackies do their job and by 2020 when tokyo has the olympics, they hope to have robot taxies in pla place. stuart: it looks like it's coming. the dow jones industrials are up 161 points as we speak. not a bad opening for a monday morning. here is what's next. joe biden targeting republicans. he says the g.o.p. candidates running for president are homophobes. sure sounds like he's going to make a run. more varney. proud of you, son. ge! a manufacturer. well that's why i dug this out for you. it's your grandpappy's hammer and he would have wanted you to have it.
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it meant a lot to him... yes, ge makes powerful machines. but i'll be writing the code that will allow those machines to share information with each other. i'll be changing the way the world works. (interrupting) you can't pick it up, can you? go ahead. he can't lift the hammer. it's okay though! you're going to change the world. that's a good thing, eligible for medicare? but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they pick up some of what medicare doesn't pay and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand what medicare is all about ...
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and the beatles, on this day in 1962, they released "love me do", it was the band's first hit. the rest, as they say, is history. check out the big board, please. we're up nicely. 161 points and we'll take it. how about the price of gold, monday morning fresh out of the box, 1139 per ounce. we're up $3 this morning. and gas right there at 2.28, 2.29 a gallon average for regular, it's been that way ten days straight. 2.29. joe biden sounding a lot like a presidential candidate when he calls out the g.o.p. roll tape. >> the american people already with you look at the numbers. there are homophobes still left. most of them are running for president, i think. stuart: that was a slap. most of them are running for president.
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obviously the republican side, let's bring out that. that was a gratuitous slap, was it not? >> as only joe biden can do. stuart: when you do a slap like that, that generally means you're setting up shop for a political run, doesn't it? >> you could say that anytime joe biden goes before a crowd, he's a sitting vice-president and you would expect something like that. stuart: you're a democrat, and harry reid, i won't go into that. he's a liar, i won't go thoo ththoo-- into that. do you want joe biden to run. first question, do you want him to run? >> that's something he'll have to decide for himself. that's deeply personal. stuart: penny lee, what do you think? do you want him to run?
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>> you know, it's hard because i have known him since he was a senator and now vice-president, it's a difficult thing to go through and to go through on such a national scale as he has as far as grieving and going through a loss, and i hesitate to put my own personal views out there. stuart: if you think that he could win, you would say yes, run. if you think-- if you're ambivalent about him you would say-- >> i think he has a tough road. there's no question. as we all have seen, often times your best day is the day you announce and from there our numbers go down. he's a popular person among the democratic party. does that translate. he's run twice before and lost twice before. i don't know that he has a winning campaign on his hands right now. stuart: you sound ambivalent. maybe the guy, if he tries to run, would not win. i'm reading between the lines, penny, that's what i'm hearing.
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>> it's not a guarantee. he has go the -- got a tough road. hillary clinton is out there quite a bit as far as scale and money and troops on the grounds, so, we-- >> has it got to be this week whether he says yes or no? >> he's going to be missing some filing deadlines, yes, yes, it's got to be quick. stuart: that's the information that's important. penny, thank you for joining us. i've got breaking news on that missing cargo ship that carries 28 american citizens and others of course. reports now that the ship has sunk. the coast guard will hold a briefing. >> the coast guard and the ship's owner concluded that the ship has sunk. it's a 790-foot container ship went down in hurricane joaquin, 33 people on board. they say there were enough life rafts and preservers on board, so they're not giving up the search, but the ship has gone down. >> by the way, we now have the
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high of the day for the dow industrials. we're up 190 points, up 200 friday, up 193, 194 this monday morning. here is what's next. new obamacare codes for doctors causing misery for them. they're having to deal with a new system. how about this, 100 different codes just for one illness, diabetes. can you cope with that? and here is an excuse to run some sexy video. carl's, jr. chief getting political in the sexy new ad. carl's new chief is here. why don't we run that videotape? >> black angus beef and bacon? roasted peppers and onions, it's mex. let's settle this.
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for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. >> look at stock price of ge, please, nicely higher. there's news, activist nelson phelps has bought, and says the market doesn't appreciate ge. bad news for your medical bill, maybe, the government changed the codes that insurance companies use to validate sicknesses, 100 new codes just
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for diabetes alone. mark siegel is here. how can you have a hundred different codes for one illness? what's with that. >> take diabetes, it involves your eyes or involves your nervous system, your kidneys, you have to be specific now, not just what type of diabetes, but what part of the body is involved. stuart: this is obamacare that's done this? >> obamacare plays a role here because it's expanded insurance to are mo and more people and insurance companies and trying to figure out who to pay for and who not. the culprit is the government center for medicaid and medicare services mandate that the insurance companies follow suit. we have a year to get it straight. it's impossible, it's cafka-esque. and do they have codes attached to them like helicopter parents. >> we've got helicopter parenting, sibling rivalry, being bitten by a macaw, fear
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of hurricanes, that's a good one. the entire united states was afraid of a hurricane last week, i could have billed for anyone. the problem is insurance will use this as a reason to turn me down. i will be sitting there with a code. let me explain. what happens is i have to put a disease down for everyone patient that comes to see me in order to get paid. they want me to be more and more specific. they can use that as a reason to turn me down and guess what, you may have to pay out of pocket. stuart: it's grossly bureaucrat particular, no way you can work efficiently. >> and 50,000 know you codes. and in canada, they were down 50%, this is a mess. stuart: good stuff, we appreciate it. donald trump with a healthy lead in the polls, but his challengers are gaining ground. we will have the latest numbers for you.
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the new steve jobs movie is coming out and a lot of criticism. we'll tell you what job's own family is saying about the film. the second hour of varney is two minutes away. outperform. that's the power of active management. when a moment spontaneously turns romantic, why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache.
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straight talk. multiplied by 13,000 financial advisors it's how edward jones makes sense of investing. . stuart: here's the big story. the big board. dare i call this a rally after 200 points on friday and up 183 today? it's a rally. let's get to politics of donald trump. still on top in the poll. now he's talking foreign policy. he says the world would be a safer place and sodom hussein in power, and whole gun dealers and gun makers responsible for gun violence. massive flooding. slamming south carolina over the weekend. governor haley says it's the worst they've had in 1,000 years. rainfall topped two feet in some areas. five deaths reported, flooding expected to continue, we'll
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hear from south carolina resident in just a few moments. "varney & company" hour two starts now. ♪ ♪ . stuart: new polls out today and trump still in the lead. we'll start with iowa. donald trump 24, carson 19, carly fiorina with 8%, bush 7 7%. rubio 6%. how about new hampshire? donald trump 21%, carly fiorina big jump up there to 16%, jeb bush 11, rubio 10 and ben carson also has 10% vote there. it is looking more like a race with the candidates catching up to donald trump. that's my interpretation of these latest numbers. speaking of donald trump. listen to what he said about what's going on in the middle east. roll tape. >> iraq is a disaster. >> it would be better off with
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do you think things would be more stable. >> of course they would be. stuart: well, that's interesting. joining me now, fox news analyst. i don't want to turn you into a trump analyst, but i would like to hear what you have to say about what he has to say. >> he's right. stuart: really? >> yeah. the middle east is a big giant snake pit and hussein on his. when the lid came off, all the snakes started slithering out. now, you can blame everybody; right? you can blame president obama, and i think that was true. you can blame bush for going in the first place. they're both wrong but what we're going to see in the next generation, the next ten years certainly is a fightan between the sunnis. stuart: that's a civil war in islam. >> it is a civil war and for them, they all think they've been chosen by the supreme being to be the surviving islamic -- so i think they're
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in a fight for the finish. stuart: so this is how it's going to play out for years and years and years to come. >> that's right. stuart: the middle east is going to be left in rubble. >> it is. there are no longer borders that matter. they were evil, they were brutal, terrible leaders, but they kept the lid on the snake pit. and now what you see is borders don't matter. libya is jihadi chaos, iraq has been dismembered, and it's isis and then at the same time it's the persian, it's iran, russia, assad, iraq alliance. stuart: this can only result, and i'm changing the subject to some degree, only result in a huge flood of refugees. a new flood of refugees. >> yeah. stuart: from the muslim countries of north africa and the middle east. >> because all the guys are getting squeezed out. so you have the christians and the sunnis in the middle east, they have no place to go. they go fight for isis and
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they don't want to do that, so they're leaving. >> trump is being criticized, as you reported that hussein used chemical warfare, mustard gas, killing hundreds of thousands of people. so is that keeping a lid on it, keeping in place when he goes across border. >> but this is a snake pit, remember. >> yeah. >> so the question is were they able to least keep the middle east a safer place. not safer for a lot of people for sure. but if you look at the jihadi chaos and the potential of nuclear weapons, it's horrible and hard to choose. >> the chemical warfare pushed iran to push for nukes; right? >> no. it did not. >> what you're saying is it takes a dictator to keep a lid on the snake pit. >> we have seen in the collapse of dibbing tapership throughout history that when that happens, chaos ensues. it's like a three x play. you've got the dictator, get rid of the dictator and then
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the third act is somebody survives. stuart: and supporting the putin assad. >> yeah. stuart: . stuart: do you want that to happen. >> putin is going to destroy any option to assad. so we the world is going to be faced do you want assad or isis? well, in that world, you want assad; right? i look at it and say what are our strategic interests? we care about the survival of israel. what can we do to help israel survive? we need oil, what if we can't get it, we sure better frack because we need to be independent and then the third is the terrorists. stay them and then and not come here. stuart: but is there any move toward shifting the iran nuke deal, it hasn't been signed, sealed, and delivered yet, but it's been announced. might as well. now we have iranian troops in
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syria for heaven sake. iran who is going after israel. is there anybody going to take a second look at the iran nuke deal and say this is ridiculous took the has been late. all those contracts are being let in the middle east. you can't get a hotel room into iran now because all the europeans and big international companies are there. they can't wait to do the deal. they think this is the new california gold rush, the opening to china. they're going to do a lot of business that the russians are going to sell them arms, the chinese is going to buy oil and apple computers trying to open up a franchise, they want to sell the iphone. stuart: i like your conclusion. we in america should frack. get oil supply. please, what is wrong with that? >> snake pit go at it. stuart: yeah, let them go. and welcome return to the show. >> thank you. pleasure. stuart: check the big board. not quite the high of the session about had we're up there. a gain of 170 points as we speak. 16.6 for the dow jones industrial. and general electronic, a huge
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company, huge stock of course, nelson is called an activist investor, he's bought $2.5 billion of ge stock. he thinks it's under valued, he's moved in and bought a chunk, and it's gone up nearly 4% this morning. you don't see that very often in a big name and big company like ge. and then we have the drug maker. spark therapeutics, it said its experimental gene research had a big result in the study. i'll get more details on this in just a moment. and then the coast guard, the container ship that said went missing in hurricane joaquin is now sunk. they're no longer looking for the vessel but the life rafts. shipwrecks have been found on the water, three coast guard on the scene. and corporate america sees the writing on the wall and may be planning for another recession. let's bring in jeffrey, you're
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saying that corporate america sees the writing on the wall, preparing for recession. make your case here. >> well, there's no doubt about that, stuart, and thanks for having me today. but with the threat of deflation, there's no doubt that's going to affect top line and bottom line revenue and earnings growth, hence there's a number of companies that have announced major layoffs, caterpillar a 10,000 person layoff, verizon said they're going to cut employee expenses by 2.5 billion. and the true employment rate is around 10%, we have very low labor-force participation . stuart: you're a money manager, a money visor kind of guy. you organize money, and may be corporations preparing for a recession, are you investing differently? are you saying take some money out of stocks at this point? will go to has been there's no doubt we're investing differently. we're really advocates for the average investor. and the stock market and the
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fed has been very humbling experience so far for that average investor. so what we really want to do, stuart, is really shift out of risk and focus on fields. i'm afraid we're entering the advent of a nonperforming stock market. stuart: which means get into stocks like dividend plays or get into bonds? what are you advising people? >> well, i think we focus on yields in the preferred stock arena, but we look for things that are stable that are not going to be in the state of fluctuation with the market volatility that we have. because when a market's volatile, all we have is the traders institution making money, it doesn't help the average investor. stuart: you know, in this program over the last couple of months, i have not had a single analyst say buy this market, stock's cheap. we're going to 20,000 to dow, not a single analyst has said that and you're not saying it now, are you. >> well, i'm not saying it now because half the stocks in the market are down by 20% or
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greater. half the market is in a bear market right now and the macro data really indicates that there's a greater drop to come. and if the drop doesn't occur, this will be the first time in the history of the market that we didn't have a three drops in a long-term pattern. so i don't think that's going to happen with the stage set currently. stuart: very interesting. you gave us clarity. we like that. jeffrey shawl, everyone. thank you very much for being with us. you can come again soon. >> thank you, stuart,. stuart: now, we have the labor participation rate. at levels not seen. that is not stopping the markets. look at that. dow industrials up 181 points. can i call that a rally? i think so. 200 points friday. 191. >> sure why not. stuart: it's a rally, folks, i'll take it. it may be a lot more expensive to take your kids to vacation to the magic kingdom. more on disney's surge pricing after this [ male announcer ] eligible for medicare?
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these kinds of plans could save you in out-of-pocket medical costs. you'll be able to choose any doctor who accepts medicare patients. and there are virtually no referrals needed. so don't wait. with all the good years ahead, look for the experience and commitment to go the distance with you. call now to request your free decision guide. this easy-to-understand guide will answer some of your questions and help you find the aarp medicare supplement plan that's right for you. stuart: monday morning and now we can see what happened in south carolina.
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like that deadly flooding that left five people dead. on the phone with me now south carolina resident and reporter, brennan, tell me exactly what can you see where you are now. >> it is just numerous subdivisions and hoa's and neighborhoods that are just flooded with water. to give you some perspective, we've got one river, and that's the next big problem that everyone's eyeing at the end of the week. one of them is already three, three and a half feet above flood stage and this is an issue we saw two years ago and it's a nightmare all over again for so many people. stuart: so, brennan, a lot of people expecting you wake up monday morning it's over and the flood recedes and it's cleanup time and now you're saying that's not the case because some of these streams and rivers have yet to crest, is that the situation. >> yes. some of them are expected to go as early as tuesday or wednesday week, others take a lot of time to get there, this could be a problem next monday or seuss. quite sometime.
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stuart: so from the video we've seen, columbia, south carolina, that appears to be worst hit. can you confirm that. >> yes. we can. and that's where you're seeing so many rescues and the water is 10, 20 feet in low lying areas and they've had some of the deaths and just the rescues from the air that they've had ho-to-operate. stuart: i know you live there. can we close out on this. how's your personal residents. >> mine is okay. i'm on slightly higher ground than others. but the real issue is everyone being urged to stay home and off the roads and there are so many who aren't. and in area where you're blocked off and land locking. stuart: what a situation. thank you so much for joining us this morning on a very important day. appreciate it, sir. >> thank you. stuart: to the markets, this is the high of the day i believe, now up 192 points.
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running out of words to describe the jobs report last friday. remember we went through horrible awful lousy. >> ugly. stuart: i'll take that. 142,000 jobs created in the month of september and that participation rate, 62.4%, that is a 38-year low. joining us now, heritage foundation's steve moore. you know, i caught a lot of flak for saying on friday that was a rotten report, a lousy report. do you want to take me to task or say that i was right? >> how about despicable? you know, look, when you -- basically it's simple. we have four out of -- we have four out of ten working-aged americans now, stuart, who are not working. four out of ten. you can't grow an economy with that number. it's that simple and this is so proplexing. all the economists, including myself are scratching their heads saying what's going on here? we are in the 6th year of a
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recovery, began in june of 2009, and every month that goes by more and more people dropping out of the labor force. now, stuart, you normally see the opposite, the economy picks up and recovers further and you see more people entering the labor force. so, by the way, month after month on your show i'm going to say it again. the biggest in washington is the unemployment rate is 5.1%. it is not 5.1%, it is 10% because you've got to include all these people who dropped out and the people who can't get full-time work and, by the way, that was the other big statistic that stuck out to me, people can't find full-time work in america, we count them as full-time employees. stuart: do you think we're going to approach a recession? because all the indicators -- they're not spiraling down but there's real signs for concern here and if we really do slow this economy, i don't think this administration has any tools to fix it. >> i don't think we're headed to a recession. i think we're just stuck at 2%. we may -- may be in that 1.75
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to 2.25%. we've been there for six years, i anticipate we're going to stay in that. now, you raised the key point. what did the president say when this lousy jobs report, the despicable jobs report came out on friday? he had three solutions. number one more infrastructure spending. i think we tried that, didn't we, with the shovel ready projects six years ago. and number two he mentioned the export, import bank. like, yeah, if only we could fund the export, import bank. i just wrote a piece in the wall street journal on friday saying stop the budget caps. stuart: but if the president got everything he's asking for, infrastructure, export, import, et cetera, et cetera, give him everything he wants, would that give us 3- 4% growth. >> no. no, it wouldn't obviously not. now, look. i said this the other day on fox, but i'll repeat it. i have three ways we can
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increase growth, you know, to 4%. number one you just heard it from katie, she's right. frack, frack, frack. number two get the epa off of the back of businesses just last week they came out with these new epa regulations with respect to ozone, which they say is the most costly regulation they've seen in 20 years and number three roll back the epa -- i mean the obamacare regulations on how many people you can employ and how many hours they work. i mean why don't we just get rid of the 30-hour week rule. let's say 40 hours a week is a full-time job and then more hours given to the workers and they need the work. stuart, how do you feed your family working 28 hours a week? . stuart: i sense your frustration. but here's -- let's close this with some good news. >> okay. stuart: of about 20 seconds. good news. every single one of the republican candidates who is talking about tax cuts. >> yeah. stuart: to create growth, your message, ask i know you've delivered it personally to
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these candidates is getting through. >> and, you know,, stuart, you get a president who wants to do these things, you can do them all. and i left out, cut the corporate tax rate from 35 to 15%. we've got it. solved all of our problems. [laughter] . stuart: thank you for joining us. we've got it this time. now, the coast guard says the cargo ship has sunk. authorities are no longer looking for the actual ship. this is a search-and-rescue mission now. listen to this from a coast guard news conference just moments ago. listen up. >> we want to make sure there are no signs of life. they were hoping to find a survivor, so we needed to check everyone. in one of the survival suits, we did identify human remains in one of the survival suits. we lowered a rescue swimmer to confirm that the person was deceased and was basically unidentifiable. stuart: can you imagine sailing a ship of any size into the middle of a hurricane? it's impossible, isn't it?
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we'll keep you up to date on the developments and the search for the victims. triple digit gains for the dow jones industrial. we have several consumer stocks hitting all-time highs. how about advanced auto parts? nike, h&r block? all of them all-time highs on a day like this. tyson, public storage, new highs for all of them. how about that? >> interesting. stuart: make spam, don't they? >> yeah. spam. stuart: the u.s. postal service, government incompetence at its best. my take in privatizing it after this (vo) rush hour around here starts at 6:30 a.m. - on the nose. but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour.
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twitter has announced that the cofounder jack dorsey will be the new ceo. taking over for dick who stepped down earlier this year. not done much for the stock. still at 26. and alcoa got a contract worth a billion dollars with airbus, and it is a winner. nearly up 4%. and then we have donald trump still leading the most recent polls, his opponents are hot on his heels, his lead is narrowing. the coast guard now says that ship went down. looking for survivors, human remains have been recovered from one survival suit. the postal service, sell it, privatize it, there's a plan guaranteed to polarize. but the possibility competing with e-mail makes radical solutions inevitable. there's no way in the 21st century the postal service can stay in business without massive subsidies. it has lost money for eight
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years straight, $5 billion last year alone. and the left-leaning institution has come out in favor as well. how long will she keep her job, you might ask? now, in britain, the royal mail has gone private and been a government-run operation for 500 years, so a lot of people want this to happen. it's time for the government here to get out of the business for delivering letters and. >> yes, i think mail. the internet has simply taken over and your friendly mail carrier is an institution and in rural areas, a lifeline. but you can't argue with technology and you can't argue that endless subsidies are okay. in fact, you can make the argument that all those post offices sit on valuable real estate and quickly turned into a taxpayer asset instead of a liability. above all, wouldn't it be nice to remove the postal service from political control? the government cannot and does
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not run interprizes officially. surely we can use that
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>> >> >> >>
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♪ stuart: where are we now on the big for it? 16659. look at ge, please. big-time investor. the stock, the company is undervalued and under appreciated. investors like act, big game for a big company. we had a technology balance. they spoke. amazon. netflix. look at facebook. netflix is up nearly $3. that is a bounce back. still on the market.
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listen to what keith fitzgerald told us earlier on this program. >> i think that it is time to be cautious. the politicians have no idea what they are doing. the fed has lost control it long time ago. there is a stakeout coming. stuart: watch out. there is a shakeout coming. you throw in the rotten jobs report from friday. a very sluggish manufacturing set her. what do you got? maybe a slowing economy. let's bring in peter. he should know what he is talking about. welcome back. how much is this economy slowing down? if it is slowing down, what can we do about it? >> it is slowing down a little bit in the third quarter. the second quarter was so robust. many quarters of low productivity growth.
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i am not too alarmed by those low job numbers. i expect the economy to grow over the next two years. it is better than we have done. it is still not that enough. you heard steve moore talk about cutting taxes. going after the concentrations in banking and cable companies and so forth. at lot of monopolization of the friends of obama during these years. that is really a problem. he sort of rejected himself as and -- stuart: what you do you mean of friends of obama on wall street? >> it is always amusing watching mr. obama go out there. the democrats raise a lot of money there. hillary clinton is doing it now. the same problem with the cable companies. every year, technology gets
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cheaper. your cable bill is jumping again. a friend of obama. it goes on and on. it is not good for growth. stuart: it is not good for growth. we will get two, 2.5, 2.8 growth in the next couple of years. i would have thought that it would've would have been lower growth than that. >> we have been dealing with better than 4%. unemployment rates peak even higher than mr. obama's. it is possible to grow this economy out four-5% this year. let's look at the page of technology that continues to amaze the world. ford complains about teslas subsidies. a bunch of guys, almost a garage
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by portable industries have created a be a cold that outperformed the best bmw in terms of its drivability. spending too much time trying to pull the epa. stuart: what you are saying is jumping on board that tesla bandwagon. i am out of time. thank you very much. we will see you again soon. a serious and unfortunate news here. the containment ship that went missing during the hurricane, it sunk. ship parts have been found washed ashore. three coast guard cutters are on the scene. >> they did find the body of one crew member. wearing one of these for five full suits. they are hoping that they can find someone who survive this. a 790-foot cargo ship.
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huge. based in jacksonville, florida. in the middle of hurricane joaquin. the boat sunk. maybe, maybe somebody could have survived. stuart: ashley, many thanks. back to the polls. trump still leads. let's start with the iowa poll. jeb bush, 7%. rubio, 6%. new hampshire higher, trump, 21. carly, 16%. by 10 points. bush, a leather percent. former bush white house representative. it seems to me that it has become a real race. the top five are pulling away from the pack. >> i think that that is a very
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good observation. up to seven candidates that can really pay play in this top tier approach. this is areas where either candidates have room to grow. the fact that they can bring in other gop voters to support them. trump still maintains that lead. it is tightening up. i think that that third debate, it will be incredibly important. >> i think of you, i should not say and establish republican, the fact that you are -- >> i would say that i am a conservative. stuart: are you therefore pleased to see trumps lead? >> carson and feel rina bring in
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a very different perspective. it takes us away from the career politicians. it is bringing up these important debates on the economy. focusing in on what we can do to promote job creation in this very stagnant economy. again, bringing up issues in a very direct way that seems to regulate with a lot. two in one gop voters right now, what they want, fresh ideas. it does not necessarily have to be about the record. staying away. they are benefiting from taking that approach. stuart: are right. we hear you. thank you. i wanted it to the hillary clinton side of the argument. in the wake of the massive shootings. expecting to call for new or, stricter gun regulations.
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another tragic mass shooting. what did she have in mind, ashley? >> bringing in all of those trial lawyers. the other issue is the use of executive action to push through some of these reforms in gun control. >> that is interesting. the executive branch of government going out after the gun background checks. what about we the people? >> there are also mental health issues with gun control. stream for mental health. it is always a routine problem with these attacks. breaking for the 1993 brady handgun bill.
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it is tough for bernie sanders to stake out a position on this as hillary clinton goes full bore. stuart: changing your opinion if you are peering 28 broader section of voters. so far, i don't think he has. cheryl is with us. what are you watching? >> looking at general electric. that is leading the dow. first, the dow is moving higher. a big state. here is the hoax. working together. the company can cut where it needs to cut ears grow where it needs to grow. in the sandbox, they are the hope on wall street.
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>> that is the first time playing in the sandbox has been mentioned. that is very good, cheryl. how about this. the new steve jobs movie. sure to be a hit at the box office. steve jobs family members say that the filmmakers got it wrong. we will have that story in a moment for you. >> new expectations out there. >> it is warm and playful and inviting. it needs to say hello. ♪
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nicole: i am nicole petallides with your fox business brief. a two-point gain on friday. right now, the dow jones industrial average is up. the s&p up 20. the nasdaq up 42. gains across the board. general electric. two and a half billion dollars stake. that is up 3.8%. disney is relatively flat. they are entertaining the idea. on the busier days it will be more expensive. on the lighter days, kind of wooing you in. for the month of october, seeing these gaining stocks. names like when resorts up 20%. china more favorable.
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stuart: i am told that online dating is not challenging enough. millennial's now have a dealbreaker. they consider proper grammar to be important.
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joe lane can't. recently married. i will test you. what is wrong? >> i wanted to tell people what is happening and why it is a big deal. millennial's hear more about grammar. dating profiles. confident. this is another i really wanted to share with you. eharmony, 5000 people surveyed. if you are a guy with two spelling errors, you are 14% less likely to get a date with the person that you message with those errors. if you are a woman, it does not matter. >> i thought, you have everything. stuart: what is wrong with the following sentence? you must be precise.
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>> my mother told me to quickly run to the store. my mother told me to quickly run to the store. >> to run to the store quickly. infinitive. >> how about this? i have to choose between three different alternatives. >> i have to choose between three different alternatives. you are choosing between two. >> youth choose among when it is more than two. >> it regardless. >> in passing. here is the big one. i maintain that impact full is not a word. >> you are such a negative nancy. >> i ain't really sure about all you people.
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>> it is not your picture that you are putting online if you are stressing about your hobbies or jobs look online. it makes sense. when you first message someone, that is your first interaction. you have to set yourself apart from the crowd. >> rich and famous, does it need a split infinitive? >> there you go. >> rammer is here to stay. >> good english or correct english? >> correct english. >> i was thought it was good english. [laughter] >> we will both revisit the subject. i like it. the new steve jobs by optic.
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biopic. okay. it comes out later this week. it is getting some criticism from the people that new steve jobs. he new steve jobs. the movie makes him out to be a rotten guy. >> it comes out on friday. broken up into three sections. he created the macintosh. we also have the next computer from 1988. the final one had to do with the imac coming out. sort of backstage at those moments. they depict him in this ferocious mean-spirited guy. the family saying, you know what, we know who the real steve jobs was back in this great innovator with all these achievements. if you just know him from a movie like this one, then it
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pains him in a very mean spirited one-sided life. they may be accurate. >> they are reporting that steve jobs try to kill the film. >> steve jobs authorized -- it was never authorized. not a public person. she does not want any of this. she has been really know, know about all of it. it is coming out here. she has every right to complain. >> he did behave badly on the job many, many times. >> i remember a moment with steve jobs. he was on vacation with his family. all of a sudden, i got a phone call. do not worry, bring your cameras. we are there and we are ready to
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go. he just storms in fresh off the airplane. interrupting his vacation. he said, you know what, i am so sick and tired of you media not being educated and now you are misinforming. he was very angry. after all of this is said and done, what would you do differently? he said education. it was interesting. he may have his moments of being bad spirited and mean guy, but look what he has accomplished. >> the most valuable company in the world. >> that is right. all day breakfast at mcdonald's arrives tomorrow. where do the eggs come from for eight bit muffins? this is important. fox news headlines 247.
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all the news you need all day long. tune in. channel 115. more varney in a moment. ♪ visit? you remembered. it's good. does it make the short list? you remembered that too. yea, i'm afraid so. knowing our clients personally is what we do. it's okay. this is what we've been planning for. thanks, bye. and with over 13,000 financial advisors, we do it a lot. it's why edward jones is the big company that doesn't act that way.
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(hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. stuart: all day breakfast that make donald.
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not only will mcdonald's egg orders be increasing, but the company just announced that the sandwiches will be made with cage free eggs. jeff flock is that a cage free egg farm. will these funds payable to keep up? >> i think that that will be difficult. eventually, they all will be. that is about a fresh egg. you take a look at the amount of cage free eggs that mcdonald's uses now, a very small percentage. a lot of their eggs are not cage free. it will take them a little while to get there. scott haselman, it is not easy to raise cage free eggs. >> it is not. we collect them by hand, we feed them by hand.
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we watered them by hand. >> the other competitors at mcdonald's to say the same thing, they are going to cage free, two. they want the chickens to be treated fairly out there. they do not mind eating them. treat them nice. >> to not be scrambling. thank you, jeff. >> waiting for the scott just egg mcmuffin. a full two hours of varney and company now in the books. here are the highlights. more varney just a few minutes away. >> partnered with the iranians. partnered with the muslim brotherhood. he needs to be very firm with the russians. telling them where they should go in where they should not be going. you wouldn't haul a load without checking your clearance.
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stuart: hillary clinton following the speed of president obama. what she is actually doing is taking the politics out. voters, set aside. you are not part of the clinton plan. she would use executive power to change the rules on background checks. the legislative branch of government has failed to act. take the issue out of their hands and have the executive branch take charge. voters do not count because voters do not vote the right way. impose a legal liability on gun manufacturers. this time, she would use the judiciary. the trial lawyers to get what the left wants.
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can you imagine the class action suit? can you imagine the cost that would be imposed on gun makers? what we are looking at here is a power grab. they have failed to win the support of voters and they have failed to win the support of all of these people who are buying guns at record rates. the latest example of the left using good executive ranch to impose its will on we the people. ♪ >> a 200-point rally. we have that on friday. that is a modest rally. how about ge. not often that you get a big-name moving 4% higher. activist investor. two and a half billion dollars worth of ge stock. he says that it is undervalued.
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the market, apparently agrees. twitter announcing that jack dorsey will be the ceo. no impact on the stocks. still at 26. how about this for a technology bounce. facebook, amazon, netflix. all big winners. longtime bayer. harry dent is back with us this morning. >> you know what people say every time we put you on the show, well, he will always be right in the very, very long-term. sooner or later, there will be a crash. what do you say to those critics? >> who caused the crash in 1999? nobody.
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it happens. we can be a little early. we have tools that nobody else has for predicting when our economy will boom and bust and when we will go through good and bad cycles. we are in every bad cycle that we could be in. >> bullish for 20 years before that. stuart: what are you looking at that nobody else is looking at. how about when people spend money down to the decimal point. that is how we solve the japan crash. the baby boom was done way before everybody else there. now it is cracking in europe. that is only for a few years. demographic trends continue to go down. you just lose the battle at this point.
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we think they will lose it in 2016. >> demographics. putting demographics right up front there as one of the reasons why we will have a crash in the next couple of years. we are having far fewer children. we are aging throughout western society. populations are actually shrinking and aging at the same time. >> it is more precise than that. age 46. they spend less and then they spend down their retirement savings. from age 46 on, it is toast. most countries do not have a generation large enough to even replace these baby boomers. we will never need more houses again. look at japan and germany. this will only get worse. you cannot grow your way out of this. stuart: thank you very much for
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coming back. >> the coast guard announcing that the cargo ship went missing this week, it has sunk. the coast guard holding a news conference later today. >> we want to make sure that there were no signs of life. we needed to check everyone. it was easily identifiable. we are talking 140 mile-per-hour wind. on its way to puerto rico. no, we were in contact with the ship feared the contact was advised of the weather.
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also, the ship's captain talked to another vessel. basically going by each other. the ship said, no, we are okay. we are fine. twenty-eight americans aboard this ship. also, some of the crew, a couple of women had been with that ship for years. their families are now speaking out to local television stations. our daughters love their job. they are well committed. every week they had drills. >> i cannot imagine a worse situation. 140 mile-per-hour wind. awful. thank you, cheryl. we will get back to politics. why not. a gop battle. the latest from iowa. trump still leads.
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some of the other candidates are beginning to close the gap a little. brett, do you think it is now converging? emerging as the people to watch. >> it looks that way for now. we have candidates zooming from local positions in the polls. then carson did that. carly feel rina did that. nearly all polls, and nearly all places. they seem to have leveled off some. he is still had. i think the question really is whether any of the candidates in the outsider category.
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challenging the three that are in outsider category that have been dominating the race. about 50% of the vote when we add them all up. stuart: it does make a very exciting and entertaining race. i think all of us have been entertained on the republican side. >> we have the man that is undoubtably the most entertaining that we have ever seen. i think that a lot of us thought, when he first started, that the novelty would wear off pretty quickly. people get tired of him and move onto something else. that has not really happened. he has done some amazing things. he is not really spent any money on advertising. putting out tweets that cost nothing to grab headlines.
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he does it all the time. he can sit at home with his feet up and make news. not many candidates have a knack for doing that, but he does. stuart: i want to give back to what i said moments ago about hillary clinton and gun-control. she says she's going to use executive power to close the gun show loophole. she wants to hold gun manufacturers liable for shooting. it seems to me that way just lay to her, we the people, are not part of the clinton gun-control plan. the executive branch in the judiciary that will do it. >> she knows that additional gun control has been a loser for democrats time after time after time. president obama try to get a gun-control measures started at the beginning of his second
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term. it collapsed in the senate. i think that democrats have reconciled themselves to the idea that they cannot pay us any of this stuff through congress. it has been a loser for them time after time. the only thing she can promise is what she can do through the executive branch alone. i am not sure how fully effective anything would be done >> okay. thank you for joining us again. >> junior. at it again. putting out another commercial that has people talking. sex and politics. we have the man behind the ad. wall it again. >> fire roasted & onions.
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>> the government announcing that the justice department has finalized the $20.8 billion settlement over the gulf oil spill. now you know the number. the stock goes up 2.5% or 200-point gain for the dow's up 196. of 200. look at the share price of american airlines. the company is down. representing representatives and gait changes. the flooding continues in south carolina. seven people dead. hundreds more needing to be rescued. south carolina and at south carolina. joining us. a lot of this dog come monday
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morning the worst of it would be over. where you are now, are the floodwaters receding? >> good morning in greenville. greenville -- in my region that i forecasted, 8 inches of rain fell for some people. there were some areas with swollen rivers. they did start to subside. >> your area starting to subside, you had 8 inches. columbia south carolina, i think they had a foot of rain. has it stopped raining there? >> there have been a few things happening. the rivers have not yet wrested from the full storm down in columbia.
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what is happening there now is just a few lighter rain showers. the rain at this point should not cause more problems. here in upstate south carolina, they had to release a dam over the weekend. that will then flood the river even more downstream. there rivers are still rising. >> thank you for joining us. >> thank you. stuart: the burger chain. carl's junior. women playing in bikinis. roll the tape.
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>> there you go. throwing a ball across what is called the border fence. the man behind the ad -- so, now -- [laughter] let's deal with the politics, first. are you making a political statement with that or just joking around? >> i want to say how our hearts go out to the people of south carolina. parties actually opened in south carolina. we are very familiar. as a political statement, i was actually surprised when i heard the reaction, it was really just an attempt to show that this burger combines the flavors of texas and mexico.
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you make me feel worse than i r delta already felt that i did not pick up on it. i actually called the marketing. i said, did you pick up on the political implications of this? he said, no, i feel as bad as you do. we run ads with beautiful women. we market to young, hungry guys. they just do not get as much attention. combining the flavors of texas and mexico. the ad agency showed me videos. people that play volleyball over the border. which way do they think that it goes? stuart: let's be honest here. you know exactly what you are doing. look at that. they are on there for a reason. sex sells.
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you know exactly what you are doing. >> political implications. yes, we use bikini-clad girls because young hungry guys watch those ads. they watch them more than once. we are in the business of selling burgers. >> run and run and run those commercials. you rely on this. get out there. varney will put it up. [laughter] a little bit like you talking about donald trump a little bit ago. a lot of free coverage with these ads. 4.5 billion. a set of eyes that feeds in there for free. i hope it is comparable.
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>> i am doing my best. >> corporate strategy. thank you very much. we will see you again real soon. >> i know. i know you have one. >> okay. thank you. anything for a free sandwich. [laughter] saturday night live's new season kicks off. millennial's. how about that. more from this in a moment. >> you have worked here for three days and you expect a promotion? >> nothing crazy. ♪ usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out.
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if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient, we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app.
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we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. stuart: not quite up to hundred points. still up triple digits. 177 higher. the least weighted of the dow 30 stocks. it is up 4%. a small impact on the dow. a big-time investor bought two and a half billion dollars worth of the stock. he thinks that the stock is undervalued. joe biden.
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you have to admit, he is sounding more and more like he is campaigning. watch this. >> the american people are already with you. look at the numbers. there are homophobes still left, most of them are running for president, i think. >> just like that. most of the homophobes are running for president. >> up until this point, he has been kind of portraying himself. also, the statesmen. the vice president of the united states. staying out of that lower-level politics. it can get a little dirty. he just went into it over the weekend. >> he was spicy. got it.
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>> he has to get on this if he is going to make sure that he is on every state outlet across the country. there is paperwork to fill out. you better get on it within the next couple of weeks. can he win? >> president obama wants his boy in the white house. >> saturday night live. taking agm at millennial's. >> sacrificing. finally, i am here. >> i need a promotion. >> how long have you even work
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here? >> three whole days. >> i am sorry, who are you again? [laughter] >> nothing crazy. >> whatever works. >> gabby is with us. a millennial. did you take offense to that kind of skit where they geld lineal looks pretty bad? >> depicting the worst eggs in the basket of my generation. unfortunately, there is some truth to it. i do not fit into that category, in case my boss is watching. millennial's, they spend about two hours a day just wasting
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time. posting pictures to instagram of their lunch at work. there is definitely some truth to it. >> i am surprised so critical of your own generation. i think that that is absolutely untrue. number two, what you saw in that skit, they think that they are entitled to a promotion. deal with that. do you think valenti knows feel entitled? >> i think that a certain sense feel entitled. they think that they deserve to have me time while at work. to me, that is disappointing. i was raised in a hard-working family. you are there nine-530.
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during that time, you will be tuning in to work and tuning out of social media. again, i have to say, with the rise of things like twitter and facebook and social networking apps, there is that temptation, not totally the fault of millennial's, but rising technology. >> very interesting. >> thank you for having me. stuart: sure thing. a good friend of the obama administration. some call it crony capitalist. a big-time investor seeks a lot of money into the company. gasparino in just a minute.
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. stuart: still strong. monday morning. the dow's up now 188 points. how about oil? not much going on there despite a price cut by saudi arabia and all that bombing that's going on in the middle east. oil still right there. mid-40s, $46 a barrel today. how about general electric? got a big time -- a chunk of the firm, $2.5 billion worth. is he taking aim at the current ceo jeff? who some of us have called a crony capitalist? here is charlie gasparino.
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now -- >> full disclosure, i used to work at nbc, which is owned by ge. not a bad guy. stuart: no understood. >> yeah. stuart: but is nelson going after his leadership at ge. >> here's what's going on right now. we don't know what's going on in the future. right now nelson pelts capital is a big activist hedge fund. one of the biggest investors in ge, so he has power. right now enwent to -- this is interesting, activist investors, they're fortunate to do something. if it stays as it is now, this is a new step in activist investing where the activist is actually enwent to the plan of jeff, which is to become smaller and buy back stock. so that's right now. now, here's where it gets interesting because ge is the company that generally does not like to be told what to do. nelson is a hedge fund manager that likes to tell people what to do as a activist.
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he doesn't like demand, he doesn't go to low out the he's endorsing them now. when the two sides don't agree, so he going to say screw you, jeff? that's when it becomes contentious. right now it looks like, would jeff step down? now when you have nelson pelts throwing in a chunk of change, endorsing his plan and calling. they put out a white paper, they did a huge analysis they're saying this is a 45-dollar stock over the next three years. jeff, if i'm minimum of is about 60 years old, he's going to be there for three years to watch the stock and retire. that's got to be his plan now. but this is going to become real interesting if they go -- if they start arguing with each other. the other thing is you have to ask yourself. why did they do what he's doing now sooner. >> yeah.
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>> i mean he waited forever to really take this company. stuart: nudge from pelts saying you're doing the right thing, get it done. that's why i'm putting money. >> simple, by the way, reported last year. this is how fascinating this is. he invited pelts in to give him some advice on what to do about activist investing, meaning jeff. stuart: that's right. >> you can go and read the story. stuart: and a friendly relationship. >> now it's friendly. stuart: all right. thank you, charlie. breaking news here we go. amtrak is reporting that the train that travels from vermont to dc has derailed about ten miles south of vermont state capital. emergency crews are on the scene obviously more on that as it becomes available. but this is just happening. the news just coming in. to afghanistan. the northern city u.s. officials investigating a deadly bombing of doctors without borders hospital could have been u.s. -backed air
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strike that mistakenly hit that. and now engaging the taliban on the ground. former cia officer mike baker joins us now. is this something new? american troops special forces firing their guns in anger going after the guys in afghanistan. new? >> no. what they're doing is they're working as advisors. intel advisors, air support advisors for the afghan forces that over the past few days have been trying to retake from the taliban. this was a very important battle that's going on. it's over shadowed by a lot of other world events and we all set afghanistan to the side, unfortunately. but, yeah, we have personnel on the ground but they're not engaged directly in the fight. they're back advising the afghan troops. stuart: that you just change? do you think that the special forces and maybe others will start to take a much more active role firing their guns in anger quite deliberately
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according to strategy? do you think they'll change that direction? >> well, i think -- not in the nearest term but i think in the midterm and long term if we don't want that country to fall back under taliban control, the only option is for us to stay engaged. and that likely will mean that, yes, there will be moments like this. and this situation with the doctors without borders extremely tragic. but it points to the fact that this urban-type warfare, the afghan forces came in, they mount a counter defensive for the taliban, that sort of engagement when you've got afghan forces working with u.s. advisors requiring u.s. air support at times inside urban environment. few scenarios that, you know, create the possibility of a goat rope more than that. stuart: the russians on the other hand with their bombing operations in syria, they
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don't have to worry about civilian casualties, they don't have to worry that putin is going to apologize for killing some civilians. it's a totally different ball game if you're on the other side of the democratic fence. >> no. absolutely. and so we -- this -- again, i go back to this doctors without border situation because this is going to hold the headlines for a period of time until investigations prove exactly what happened. u.s. military despite what some of our enemies would like to say court and others who are opposed to the u.s. military, we try to do the right thing. occasionally there will be tragedies like this. but the investigations that follow, i think we've seen from the military over the past they -- they're thorough, and they try to identify those that are responsible, they try to be as transparent as possible. but this is going to play out for some period of time until we get all the facts. but you're right. putin acts, you know, on behalf of assad with complete immunity. we want to be on the side of good obviously. stuart: okay., mike baker, i'm short of time but thanks so
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much for joining us today. thanks, mike. >> thank you. stuart: to the markets, please. the dow jones industrial trading on the upside, a nice gain this morning. right now up 172. and jason joining from us california. i want to start with one specific stock actually. and that will be facebook. i think you're really big on facebook, the stock is up today. a lot of people have told me that this is the one big tech stock that still has a ways to go o on the upside. what say you? >> what say me? well, i've said it more than once, and i'll say it again this morning. facebook is the ultimate growth stock. that's really the bottom line here. every single dip on facebook should be bought. it hasn't even hit triple digits yet. i think five years from now you'll look back at 100 and think my god why didn't i buy more at 100 and you can buy at 93. so i think facebook has a tremendous growth potential because it owns so many companies that could be publically traded successful companies in and of itself and
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they're all owned by facebook . stuart: you make it out to be another apple or google, which a lot of people didn't see coming in the early days and the huge zoom took place a couple of years later. would you put facebook in that category. >> sure. i mean take a look at facebook relative to countless other companies and websites that try to make a dent in the social networking space that have failed. i mean, you know, ten years ago there was facebook versus my space. who even logs onto my space even more? they have shown that through foresight they know how to evolve but may the make a a boatload of money while they're at it. stuart: let's walk down the road one year. where do you see facebook one year from now. >> at least 20% higher. stuart: so you're looking at 115, 120, something like that. >> i think that's very reasonable, yeah. stuart: five years down the road. go ahead. surprise us all. five years down the road. >> 250. stuart: really?
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okay. >> 250. yeah. because the thing is there's virtual reality, there's hundreds of millions of members on what's app that aren't even being monetized yesterday. facebook owns instagram, which everybody logs onto 100 times a day now. and they're just starting to monetize it. there's the whole emerging markets which have yet to log onto facebook. so, again, i mean there's no 100% sure thing, but i think this is pretty close. stuart: all right, jason, you're on videotape saying 150 to 120 a year from now, 250, five years from now on facebook. >> i'll see you there. stuart: all right, jason, good stuff. thanks for joining us. appreciate it. >> sure. stuart: hillary clinton appearing on nbc this morning going after republicans and their attacks over her e-mails and benghazi. the judge on hillary. next we live in a world of mobile technology, but it is not the device that is mobile, it is you.
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>> i'm nicole petallides with your fox business brief. the biotechs coming under some pressure and the dow holds onto serious games. up 174 to the upside. 16,646, the s&p up 22, the nasdaq up 38, and the ten-year bond 2.02%. general electric is leading the way on the dow jones industrial average after discloses a stake. apple coming spurned pressure. twitter, well, it's official because they now named jack dorothy as the achieve executive officer permanently.
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and coming under some pressure, says cisco systems could be giving them a run in this product for cyber security, down 6.5, cisco is gaining 3%. start your day every day on fox business at 5:00 a.m. fn a.m. lauren simonetti and i give you all the breaking news you need glad i could help you plan for your retirement.
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alright, kelly and promise me that you'll try that taco place on south street. and we have portfolio planning tools to help you manage your ira. yeah, you're old 401k give me your phone. the rollover consultants give you step-by-step help. no set-up fees. use your potion. sorry, not you. my pleasure. goodnight, tim. for all the confidence you need. who's tim? td ameritrade. you got this. stuart: more on this story. amtrak reporting that a train that travels from vermont to dc has the derailed about ten miles south of the capital.
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now, there are reports that two cars went over an embankment and are on fire. emergency crews are on the scene but that's where it happened to an amtrak train. okay. more details coming up we'll have them for you. and now this. hillary clinton appearing on nbc today's show. visibly angry at republicans over their investigation into her e-mails and into benghazi. listen to this. >> look at the situation they chose to exploit to go after me for political reasons. the death of four americans in benghazi. i knew the ambassador. i identified him, i asked him to go there. i asked the president to nominate him. this committee was set up as they have admitted for the purpose of making a partisan political issue out of the death for americans. i would have never done that and if i were president, and there were republicans or democrats who were thinking about that, i would have done everything to shut it down. stuart: judge andrew napolitano is here. i would have done everything
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to shut it down if i were the president. >> that brings to me-to-mine two observations. one she's being critical of president obama for not shutting it down. two the president cannot shut down a congressional inquiry when the other party controls congress. and richard next onwhere this can lead. stuart: fair point but the guy who who wants to be the speaker of the house, mccarth mccarthy, he has admitted frankly that it was a political move on the part of that committee. exploiting that. >> if his admission is true, it's reprehensible. however, his admission is belied by the hundreds and hundreds of hours of sophisticated law enforcement work that's been done by investigators and committee members. when she said this is being -- this is taking advantage of the death of four people, this is obviously in effort to ship the focus from herself to the death of four people.
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i appointed the ambassador, he worked for me, which she forgot to say, i put his schedule where he was going in libya and in insecure server that could be hacked by anybody. because among the confidential classified e-mails that have been released were hers talking about where the ambassador was going in libya. she didn't say that in her things that she did on behalf oon behalf of the ambassador. she's going to have to answer for that. . stuart: yes. but she's making hay with that comment from the. >> uh-huh. stuart: possible future speaker of the house about the politicalization. >> whether it's true or untrue, it's beyond me. stuart: right. >> if it's true and he said it, he should be kicked out of politics, if it's untrue and he said it, there's no way he should be speaker. stuart: all right, judge, you said earlier that hillary clinton is tightening the nuse, which is of her own
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making about the e-mail situation. >> yeah. stuart: explain, please. >> she continues to give altering explanations from what she said before. she has said consistently there was no classified material on any e-mail i sent or received. the government has now identified 400 e-mails with classified material ranging from confidential, the lowest denomination to top secret. how could things, like, satellite photographs of north korean military, e-mails of cell phone of foreign agents, the ambassador of stevens as he traveled throughout libya, how could that not be classified? i don't know how she can explain it. as well she said this morning on the today show that she chose which e-mails were personal and which were government before this morning, she insisted she didn't make that choice, it was done by her lawyers, or it was done by her personal aids
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. stuart: and her aids have now lawyered up. >> at the advice of her own lawyer. stuart: okay. the nuse is tightening. okay. we hear you. judge, thank you very much indeed. >> you're welcome. stuart: up next, it could cost you $5 to take money from an atm. >> what? . stuart: yeah. under what circumstances is that going to happen? we're going to tell you. we've got a report. and a very special guest tomorrow on mornings with maria. former fed chair ben 6:00 a.m. eastern is when the show starts, on that show, it's on fox business. what super poligrip does for me is it keeps the food out. before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now. i accept i'm not the rower i used to be.. i even accept i have a higher risk of stroke due to afib, ♪
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icantly less major bleeding than warfarin. eliquis had both. that really mattered to me. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. i accept i don't have to set records. but i'm still going for my personal best. and for eliquis. reduced risk of stroke plus less major bleeding. ask your doctor if switching to eliquis is right for you.
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call today at see car insurance in a whole new light. liberty mutual insurance. >> when i heard this, i found it hard to believe but soon it might cost you more to get cash -- to get more money a lot of cash out of the atm. look at this. abank-rate survey shows the average out of network fee for an atm is $4.52. what? $4.52? >> it's easy to blame the big greedy banks; right? but the cost for business for banks is going up for a variety of reasons, the financial crises of course. ultralow interest rates for so many years now, so banks aren't making as much money lending out money. cyber security cost. this has been a security cost
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for info being hacked or risk of that happening. also keep in mind branch visitors going to the atm, that costs them more so they're using these fees to make you use mobile banking. >> so $5 possible for using an atm. >> it is possible. let's look at the geographic. atlanta is the highest. $5.57. >> that's out of network, isn't it? >> that's out. >> okay. that's the word. i've got breaking news adding to the amtrak story okay? amtrak is reporting a derailment of that train in vermont, traveling to dc. four people injured. you're about to see a picture from the scene tweeted by someone who was nearby. there it is. you don't see much but you can tell there's been a derailment, the train or the carriage rather there is off those rails. four people injured. none of them with life-threatening injuries at this point. more varney in a moment for you just like eddie, the first step to reaching your retirement goals is to visualize them.
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then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. the internet of things. what we're recommending as your consultants... the new consultants are here. it's not just big data, its bigger data. we're beta testing the new wearable interface... ♪ xerox believes finding the right solution shouldn't be so much work. by engineering a better way for people, process and technology to work together. work can work better. with xerox. at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.
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>> i'm not too alarmed by the low jim brown numbers, i expect economy to grow by 2.8% over the next two years, which is better than what we've done but that's still not good enough. what can we do? well, you heard steve moore talking about cutting taxes. so the next thing is go after concentrations in banking. neil: well, he said 2.5 to 2.8% growth. that surprises me. that was a better growth rate than expecting. some of your comments on other aspects of the show start with david in regards to the russian air strikes in syria. he says russia wiping out isis makes the world a safer place. let them do some of the fighting. fair enough, david, but they're not going after isis, they're going after antiassad rebels and there's a difference. anne think so the u.s. should be doing month. she says obama has no plane or
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strategy to keep america strong and safe. that's what you had to say about various aspects of our show today. and she had a lot more to say, we just don't have time for it. but neil cavuto, the time as yours. go for it. neil: are you saying if you had more time, you would have kept running those. >> yes. neil: i just wanted to check. thank you, sir. stuart, varney. we've got some interesting developments. the surge of those unconventional candidates, you heard about donald trump coming down a little bit, on top of another development here of about other unsurging candidates who are just outside that political petary dish, including one ben carson who earlier on was defending his outside the mainstream stance telling me he thinks he's got what it takes. take a look. >> campaign they're going to raise, you know, and all of this stuff there's the stuff that you're well-known for. but that -- when it comes to


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